Charlotte, North Carolina-based Insurance broker Truist Insurance Holdings, Inc. reports it has agreed to acquire the national title insurance agency Kensington Vanguard National Land Services.
The transaction expands Truist’s presence in the title insurance market. Truist’s existing title operation, BridgeTrust Title, will be integrated into the Kensington Vanguard platform.
Kensington, headquartered in New York City, has offices in Arizona, Florida, New Jersey, Virginia and Texas. Founded in 2002, Kensington Vanguard provides commercial and residential title insurance, settlement, escrow and 1031 exchange services. It was acquired by private equity firm Stone Point Capital in 2016.
The transaction is expected to close later in the first quarter. The terms of the sale were not disclosed.
Truist Insurance Holdings, a subsidiary of Truist Financial Corp., operates more than 240 offices through its subsidiaries: McGriff Insurance Services; CRC Insurance Services; Crump Life Insurance Services; AmRisc; and its premium finance companies AFCO Credit, Prime Rate Premium Finance and CAFO.
Topics Mergers & Acquisitions
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